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UEM leads Malaysian consortium for US$1.2b Dubai project
UEM leads Malaysian consortium for US$1.2b Dubai project
BY B.K. SIDHU
United Engineers (M) Bhd (UEM) has emerged as lead member, with 65% stake, in a Malaysian consortium that is said to be the front-runner for the US$1.2bil monorail project in Dubai.
MTrans Holdings Sdn Bhd, the parent company of monorail operator KL Infrastructure Group Bhd, will hold the balance 35% stake. MTrans had invited UEM on board last month given the latter’s vast experience and expertise in structural and civil engineering works.
Several parties had shown interest in the monorail project, but subsequently there were only two bidders, the UEM-led Malaysian consortium and Japan’s Hitachi Ltd.
The contract was expected to be awarded this week but was delayed due to some minor changes. Sources said the Dubai authorities would announce the successful bidder very soon.
The sources said UEM officials were in Dubai last week to iron out details of the changes that the authorities had made to the original plan.
The project, which entails the development of a 5.6km monorail system in Dubai’s prestigious Palm Jumeirah, will be awarded by leading Middle East developer Nakheel.
The winning party will have to begin work on the monorail project fairly quickly given the Dubai authorities expect commercial operations to begin in 2008.
About 60% of the contract value would cover civil works. Sources said UEM Builders Bhd might be in the running for that portion should the Malaysian consortium secure the project.
MTrans' portion would be to manufacture and provide the trains for the monorail service. Sources said it would be required to supply six two-car trains in 2008, and three more later.
The technical partner for the Malaysian consortium is Siemens A.G Transportation, which will provide the electrical and electronics for signalling as well as systems integration.
The project would be a major boost to UEM should the Malaysian consortium win, since UEM had been on an aggressive drive to look for business opportunities globally.
The UEM Group's overseas projects include the RM900mil Selwa Road project and a RM300mil technology college in Qatar.
UEM leads Malaysian consortium for US$1.2b Dubai project
BY B.K. SIDHU
United Engineers (M) Bhd (UEM) has emerged as lead member, with 65% stake, in a Malaysian consortium that is said to be the front-runner for the US$1.2bil monorail project in Dubai.
MTrans Holdings Sdn Bhd, the parent company of monorail operator KL Infrastructure Group Bhd, will hold the balance 35% stake. MTrans had invited UEM on board last month given the latter’s vast experience and expertise in structural and civil engineering works.
Several parties had shown interest in the monorail project, but subsequently there were only two bidders, the UEM-led Malaysian consortium and Japan’s Hitachi Ltd.
The contract was expected to be awarded this week but was delayed due to some minor changes. Sources said the Dubai authorities would announce the successful bidder very soon.
The sources said UEM officials were in Dubai last week to iron out details of the changes that the authorities had made to the original plan.
The project, which entails the development of a 5.6km monorail system in Dubai’s prestigious Palm Jumeirah, will be awarded by leading Middle East developer Nakheel.
The winning party will have to begin work on the monorail project fairly quickly given the Dubai authorities expect commercial operations to begin in 2008.
About 60% of the contract value would cover civil works. Sources said UEM Builders Bhd might be in the running for that portion should the Malaysian consortium secure the project.
MTrans' portion would be to manufacture and provide the trains for the monorail service. Sources said it would be required to supply six two-car trains in 2008, and three more later.
The technical partner for the Malaysian consortium is Siemens A.G Transportation, which will provide the electrical and electronics for signalling as well as systems integration.
The project would be a major boost to UEM should the Malaysian consortium win, since UEM had been on an aggressive drive to look for business opportunities globally.
The UEM Group's overseas projects include the RM900mil Selwa Road project and a RM300mil technology college in Qatar.